Nonlinearity, Complexity and Randomness in Economics (eBook)
- Features an interdisciplinary collection of papers by economists, scientists, and philosophers
- Presents new approaches to macroeconomic modelling, agent-based modelling, financial markets, and emergent complexity
- Reveals how economics today must be based on algorithmic, computable mathematical foundations
Stefano Zambelli is Professor of Political Economy at the Department of Economics, University of Trento, Italy. He is also a founding member of the Algorithmic Social Sciences Research Unit (ASSRU) at University of Trento.
Donald A.R. George is Senior Lecturer in Economics at the University of Edinburgh. He has published extensively on the economics of self-management, economic dynamics, and the economics of product reliability, and is joint founding Editor of the Journal of Economic Surveys.
Nonlinearity, Complexity and Randomness in Economics presents a variety of papers by leading economists, scientists, and philosophers who focus on different aspects of nonlinearity, complexity and randomness, and their implications for economics. A theme of the book is that economics should be based on algorithmic, computable mathematical foundations. Features an interdisciplinary collection of papers by economists, scientists, and philosophers Presents new approaches to macroeconomic modelling, agent-based modelling, financial markets, and emergent complexity Reveals how economics today must be based on algorithmic, computable mathematical foundations
Stefano Zambelli is Professor of Political Economy at the Department of Economics, University of Trento, Italy. He is also a founding member of the Algorithmic Social Sciences Research Unit (ASSRU) at University of Trento. Donald A.R. George is Senior Lecturer in Economics at the University of Edinburgh. He has published extensively on the economics of self-management, economic dynamics, and the economics of product reliability, and is joint founding Editor of the Journal of Economic Surveys.
Notes on Contributors vii
1. Introduction 1
Stefano Zambelli
2. Towards an Algorithmic Revolution in Economic Theory
7
K. Vela Velupillai
3. An Algorithmic Information-Theoretic Approach to the
Behaviour of Financial Markets 37
Hector Zenil and Jean-Paul Delahaye
4. Complexity and Randomness in Mathematics: Philosophical
Reflections on the Relevance for Economic Modelling 69
Sundar Sarukkai
5. Behavioural Complexity 85
Sami Al-Suwailem
6. Bounded Rationality and the Emergence of Simplicity Amidst
Complexity 111
Cassey Lee
7. Emergent Complexity in Agent-Based Computational Economics
131
Shu-Heng Chen and Shu G.Wang
8. Non-Linear Dynamics, Complexity and Randomness: Algorithmic
Foundations 151
K. Vela Velupillai
9. Stock-Flow Interactions, Disequilibrium Macroeconomics and
the Role of Economic Policy 173
Toichiro Asada, Carl Chiarella, Peter Flaschel, Tarik Mouakil,
Christian Proa~no andWilli Semmler
10. Equilibrium Versus Market Efficiency: Randomness versus
Complexity in Finance Markets 203
Joseph L. McCauley
11. Flexible Accelerator Economic Systems as Coupled Oscillators
211
Stefano Zambelli
12. Shifting Sands: Non-Linearity, Complexity and Randomness in
Economics 237
Donald A.R. George
Index 241
| Erscheint lt. Verlag | 2.12.2011 |
|---|---|
| Reihe/Serie | Surveys of Recent Research in Economics | Surveys of Recent Research in Economics |
| Sprache | englisch |
| Themenwelt | Mathematik / Informatik ► Mathematik ► Angewandte Mathematik |
| Wirtschaft ► Volkswirtschaftslehre | |
| Schlagworte | agent-based modelling • Ãkonometrie • algorithmic, computable mathematical foundations • Econometrics • Economics • Emergent Complexity • Financial Markets • implications for economics • Macroeconomic Modelling • Ökonometrie • Volkswirtschaftslehre |
| ISBN-13 | 9781118300428 / 9781118300428 |
| Informationen gemäß Produktsicherheitsverordnung (GPSR) | |
| Haben Sie eine Frage zum Produkt? |
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